Alphabet chairman Eric Schmidt steps down

Google's parent company Alphabet has confirmed that Eric Schmidt will be leaving his position as executive chairman.

During his 17 years at the company, Schmidt oversaw Google's rise from a simple start-up to one of the biggest and most influential companies in the world, and Schmidt has had a huge role in that happening.

Schmidt won’t be completely gone, though, as he will remain on the Alphabet’s board of directors and will stay as an adviser for tech and science issues. Issuing a statement on his move, he said: “The time is right in Alphabet’s evolution for this transition.” Chief executive Larry Page added: “I‘m incredibly excited about the progress our companies are making and about the strong leaders who are driving that innovation.”

Schmidt was chief executive from 2001 to 2011, after which he assumed the role of an executive chairman. Reuters says he’s done a lot about negotiating regulations with governments and speaking about the tech industry.

Among the things credited to Schmidt are taking the company public, shepherding the Android OS, and the reorganisation which included the creation of Alphabet

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